Chase Bank – Winning with Direct Mail

One of our employees recently had a great experience with Chase Bank and it reminded us of why direct mail still works and works well. We’ll call this employee Tim. Full disclosure, he’s a millennial which says a lot, but we won’t hold that against him. Millennials can be hard to reach and have a political correctness lens. That’s why when Tim recently moved and was looking for a new bank he did his research for a company that matched his values. Tim’s motivation was not unlike most people looking for a new bank.

The Motivation

Tim needed a bank that was convenient, made banking easy for him, and most importantly valued him as a customer. Most banks Tim researched had a lot of red tape. Online banks offered flexibility but lacked customer service. Other banks in his area had high balance requirements or had monthly charges. It seemed like all was lost until something came in the mail.

Chase Bank Wins the Day

Now enters the hero, Chase Bank. Tim opens his mailbox to find a simple 3-panel mailer with a huge offer (more on that in just a minute).

His interest was piqued. Chase had succeeded with the first step in direct marketing – targeting the right person at the right time.

Next, Chase delivered a winning message in their creative. With a simple offer headline “Enjoy up to $500 on us” they had answered Tim’s internal question: “Doesn’t my relationship with a bank have value?” Chase said YES, we want and value your business.

The inside panel outlined in 3 easy steps what he had to do:

Bring in the mailer

Open a checking and/or savings account

Receive the bonus

Within 5 seconds, Tim knew what the service was, how it was going to improve his life and what he needed to do to get started. Kudos to Chase for delivering a very clear and simple process to acquire a new customer.

Thinking back on the hours of frustrating research, this direct mail was a welcomed relief. Tim googled “Chase Bank” to find that there was a branch 5 minutes from his house and that they have positive reviews online. Wow! This looks great. Tim walked to the bank and after 25 minutes, left with a new checking account and debit card in hand.

The Takeaway

Direct mail is still a great way to break through the noise and win new business. Chase Bank targeted the right prospect at the right time and with a compelling offer. They made the process easy and now they have a new customer and a millennial at that. Tim and Chase should be thinking that this is just the beginning of a beautiful relationship. And Tim will likely tell his friends about his experience which could lead to more new customers for Chase.

Tivoli Partners helps financial services and leisure brands create targeted communications like this one. So we’re always pleased when we receive a great direct mail piece that drives us to action. We like direct mail so much you could say we love it.